The French National Assembly Finance Committee recently approved amendments to tax crypto-to-stablecoin swaps and introduce an exit tax for wealthy crypto holders. These measures target assets defined under the EU MiCA regulation, aiming to treat stablecoin conversions as taxable sales starting January 1, 2027.
The proposed exit tax would apply to tax households with crypto holdings exceeding €800 000, provided the taxpayer was a French resident for at least six of the previous 10 years. This rule mirrors existing stock market regulations, requiring a full declaration of assets, including those held in self-custody wallets.
Additionally, the committee backed a proposal to allow investors to carry forward crypto losses for 10 years to offset future gains. This change would align crypto tax treatment with the current regime for stocks, which currently prohibits the carry-over of unused digital asset losses.
Despite committee approval, these amendments are not yet law. The committee rejected the entire budget revenue section, meaning the proposals must be reintroduced during the floor debate beginning October 13. A formal vote on the budget is scheduled for October 20.
